NZDUSD - 2nd Wave Retracement In Completion
Do you have the answer to that equation on the chart?
That's usually how I find as many technical reasons as possible to identify a trade that I will not regret making.
The dollar is near the bottom of its major range at 94.4, commodity currencies have proven to be weak as well.
So shorting NZDUSD is quite a safe choice and given the fact, the price has retraced very significantly.
Always go for the trade you have no reason not to make.
That's usually how I find as many technical reasons as possible to identify a trade that I will not regret making.
The dollar is near the bottom of its major range at 94.4, commodity currencies have proven to be weak as well.
So shorting NZDUSD is quite a safe choice and given the fact, the price has retraced very significantly.
Always go for the trade you have no reason not to make.
Comment:
Price is about to reach the supply zone @ 0.6640. Awaiting sell opportunity.
Comment:
Watch out for a break above of supply zone. And also watch closely to see if the dollar is able to rebound tonight or else there won't be enough selling power to push NZDUSD lower.